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Japanese Bank SMBC to Foray Into NFT and Web3 Markets

The Sumitomo Mitsui Banking Corporation (SMBC), the second largest of the three biggest banks in Japan, has announced it is planning to expand into digital asset businesses, including non-fungible tokens (NFTs) and Web3 platforms. The company will partner with Hashport, a group that offers tokenization and listing services in Japan, to launch a token business lab to experiment with these new technologies.

We aim to build an ecosystem involving many players in the NFT domain. We believe that these efforts will contribute to the promotion of Web3 in Japan.


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